Kohl's (KSS) 10-Q 4 Sep 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Aug. 01, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	KOHLS CORP
Entity Central Index Key	885,639
Current Fiscal Year End Date	--01-30
Entity Filer Category	Large Accelerated Filer
Trading Symbol	KSS
Document Type	10-Q
Document Period End Date	Aug. 1, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	194,497,789

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014
Current assets:
Cash and cash equivalents	$ 934	$ 1,407	$ 746
Merchandise inventories	4,252	3,814	3,899
Deferred income taxes	130	116	132
Other	310	359	323
Total current assets	5,626	5,696	5,100
Property and equipment, net	8,528	8,515	8,686
Long-term investments	3,200	3,100	3,100
Other assets	201	207	281
Total assets	14,355	14,418	14,067
Current liabilities:
Accounts payable	1,566	1,511	1,479
Accrued liabilities	1,125	1,160	1,057
Income taxes payable	53	78	66
Long-term Debt, Current Maturities	317	0	0
Current portion of capital lease and financing obligations	117	110	105
Total current liabilities	3,178	2,859	2,707
Long-term debt	2,791	2,780	2,778
Capital lease and financing obligations	1,821	1,858	1,896
Deferred income taxes	318	368	315
Other long-term liabilities	570	562	562
Shareholders’ equity:
Common stock	4	4	4
Paid-in capital	2,914	2,743	2,638
Treasury stock, at cost	(9,308)	(8,744)	(8,459)
Accumulated other comprehensive loss	(18)	(20)	(30)
Retained earnings	12,085	12,008	11,656
Total shareholders’ equity	5,677	5,991	5,809
Total liabilities and shareholders’ equity	$ 14,355	$ 14,418	$ 14,067

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - Equity Component [Domain] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net sales	$ 4,267	$ 4,242	$ 8,390	$ 8,312
Cost of merchandise sold	2,605	2,588	5,206	5,162
Gross margin	1,662	1,654	3,184	3,150
Operating expenses:
Selling, general and administrative	1,005	981	2,021	1,981
Depreciation and amortization	233	222	459	438
Operating income	424	451	704	731
Interest expense, net	84	85	168	170
Gains (Losses) on Extinguishment of Debt	131	0	131	0
Income before income taxes	209	366	405	561
Provision for income taxes	79	134	148	204
Net income	$ 130	$ 232	$ 257	$ 357
Net income per share:
Basic (in dollars per share)	$ 0.66	$ 1.14	$ 1.30	$ 1.74
Diluted (in dollars per share)	0.66	1.13	1.29	1.73
Dividends declared and paid per share	$ 0.45	$ 0.39	$ 0.90	$ 0.78

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings [Member]
Long-term Debt, Fair Value	$ 3,100
Beginning Balance (in shares) at Jan. 31, 2015		367		(166)
Beginning Balance at Jan. 31, 2015	5,991	$ 4	$ 2,743	$ (8,744)	$ (20)	$ 12,008
Comprehensive income (loss)	259				2
Net income	257					257
Stock options and awards, (in shares)		3		0
Stock options and awards	148		171
Stock Issued During Period, Value, Stock Options Exercised				$ (23)
Dividends paid ($0.90 per common share)	(178)		0	$ 2		(180)
Treasury stock purchases, (in shares)				(8)
Treasury stock purchases	(543)			$ (543)
Ending Balance (in shares) at Aug. 01, 2015		370		(174)
Ending Balance at Aug. 01, 2015	5,677	$ 4	$ 2,914	$ (9,308)	$ (18)	$ 12,085
Long-term Debt, Fair Value	$ 3,200

CONSOLIDATED STATEMENT OF CHAN5

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Dividends declared and paid per share	$ 0.45	$ 0.39	$ 0.90	$ 0.78
Treasury Stock
Stock Issued During Period Shares Stock Options Exercised And Restricted Stock Grants			0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Payments of Debt Extinguishment Costs	$ (126)	$ 0
Operating activities
Net income	257	357
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	459	438
Share-based compensation	24	24
Excess tax benefits from share-based compensation	(10)	(2)
Deferred income taxes	(65)	(17)
Other non-cash revenues and expenses	17	11
Extinguishment of Debt, Amount	131	0
Changes in operating assets and liabilities:
Merchandise inventories	(433)	(20)
Other current and long-term assets	60	2
Accounts payable	55	114
Accrued and other long-term liabilities	(121)	(103)
Income taxes	(21)	(74)
Net cash provided by operating activities	353	730
Investing activities
Acquisition of property and equipment	(377)	(374)
Other	3	6
Net cash used in investing activities	(374)	(368)
Financing activities
Treasury stock purchases	(543)	(392)
Shares withheld for taxes on vested restricted shares	(23)	(16)
Dividends paid	(178)	(160)
Proceeds from Issuance of Debt	1,098	0
Payments of Financing Costs	(9)	0
Repayments of Long-term Debt	(767)	0
Capital lease and financing obligation payments	(54)	(61)
Proceeds from stock option exercises	140	37
Excess tax benefits from share-based compensation	10	2
Proceeds from financing obligations	0	3
Net cash used in financing activities	(452)	(587)
Net decrease in cash and cash equivalents	(473)	(225)
Cash and cash equivalents at beginning of period	1,407	971
Cash and cash equivalents at end of period	934	746
Supplemental information
Interest paid, net of capitalized interest	167	171
Income taxes paid	242	295
Non-cash investing and financing activities
Property and equipment acquired through additional liabilities	$ 21	$ 22

Basis of Presentation

Basis of Presentation	6 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary of Accounting Policies	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for fiscal year end consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2015 (Commission File No. 1-11084) as filed with the Securities and Exchange Commission on March 20, 2015. Due to the seasonality of our business, results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. In addition, quarterly results of operations may be impacted by the timing and amount of sales and costs associated with the opening of new stores. We operate as a single business unit. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") 605, Revenue Recognition. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which defers the effective date of ASU 2014-09 for all entities by one year. The original ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the current pronouncements, we are required to adopt the new guidance in the first quarter of fiscal 2018 using one of two retrospective application methods. We are evaluating the application method and the impact of this new statement on our financial statements. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30). This ASU requires an entity to present such costs on the balance sheet as a direct deduction from the related debt liability rather than as an asset. We early adopted ASU No. 2015-03 during the quarter ended August 1, 2015 and applied it retrospectively. The early adoption resulted in the reclassification of debt issuance costs from other current and long-term assets to long-term debt on the balance sheet of $19 million as of August 1, 2015 , $13 million as of January 31, 2015, and $14 million as of August 2, 2014. To conform to the current year presentation, we have corrected the presentation of $43 million of deferred income taxes that were previously recorded as long-term other assets and $23 million of other current assets that were previously recorded as an income taxes payable as of August 2, 2014 .

Debt

Debt	6 Months Ended
	Aug. 01, 2015
Debt [Abstract]
Debt	Debt Long-term debt consists of the following unsecured senior debt: Outstanding Maturity Effective Rate Coupon Rate August 1, 2015 January 31, 2015 August 2, 2014 (Dollars in Millions) 2017 6.31 % 6.25 % $ 318 $ 650 $ 650 2021 4.81 % 4.00 % 650 650 650 2023 3.25 % 3.25 % 350 350 350 2023 4.78 % 4.75 % 300 300 300 2025 4.25 % 4.25 % 650 — — 2029 7.36 % 7.25 % 99 200 200 2033 6.05 % 6.00 % 166 300 300 2037 6.89 % 6.88 % 150 350 350 2045 5.57 % 5.55 % 450 — — 5.02 % 3,133 2,800 2,800 Unamortized debt discount (5 ) (7 ) (8 ) Deferred financing costs (19 ) (13 ) (14 ) Current portion of long-term debt (318 ) — — Long-term debt $ 2,791 $ 2,780 $ 2,778 ASC No. 820, Fair Value Measurements and Disclosures, requires fair value measurements be classified in various pricing categories. Our long-term debt is classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our long-term debt was $3.2 billion at August 1, 2015 and $3.1 billion at both January 31, 2015 and August 2, 2014. In July 2015, we completed a cash tender offer for $767 million of senior unsecured debt. We recognized a $131 million loss on extinguishment of debt in the second quarter of 2015 which includes the $126 million bond tender premium paid to holders as a result of the tender offer and a $5 million non-cash write-off of deferred financing costs and original issue discounts associated with the extinguished debt. Concurrent with the settlement of the tender offer, we exercised our right to redeem $318 million ( $317 million , net of discount) of 6.25% notes due in 2017 . The redemption was completed in August 2015 and included a $37 million "make-whole" premium and a $1 million non-cash write-off of deferred financing costs and original issue discounts associated with the extinguished debt which will be expensed in the third quarter. In July 2015, we issued $650 million of 4.25% notes due in July 2025 and $450 million of 5.55% notes due in July 2045. Both notes include semi-annual, interest-only payments beginning January 17, 2016. Proceeds of the issuances and cash on hand were used to pay the principal, premium and accrued interest of the tendered and redeemed debt which was settled in July and August 2015, respectively. On July 1, 2015, we entered into an Amended and Restated Credit Agreement with various lenders which provides for a $1.0 billion senior unsecured five-year revolving credit facility. Among other things, the agreement includes a maximum leverage ratio financial covenant (which is consistent with the ratio under our prior credit agreement) and restrictions on liens and subsidiary indebtedness.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Aug. 01, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation Stock options The following table summarizes our stock option activity for the six months ended August 1, 2015 : Shares Weighted Average Exercise Price (Shares in Thousands) Balance at beginning of period 6,211 $ 52.95 Exercised (2,730 ) 52.99 Forfeited/expired (140 ) 50.13 Balance at end of period 3,341 $ 53.05 Nonvested stock awards The following table summarizes nonvested stock activity, including restricted stock equivalents issued in lieu of cash dividends, for the six months ended August 1, 2015 : Shares Weighted Average Grant Date Fair Value (Shares in Thousands) Balance at beginning of period 2,431 $ 52.29 Granted 602 74.70 Vested (731 ) 52.71 Forfeited (175 ) 53.91 Balance at end of period 2,127 $ 58.06 Performance share units During the six months ended August 1, 2015, we granted performance-based restricted stock units ("performance share units") to certain executives. The performance measurement period for these performance share units is fiscal years 2015 through 2017. The fair market value of the grants were determined using a Monte-Carlo valuation on the date of grant. The performance share units cover a target of 138,000 shares. The actual number of shares which will be earned at the end of the three-year vesting period will vary based on our cumulative financial performance over the vesting period. The number of performance share units earned will be modified up or down based on Kohl’s Relative Total Shareholder Return against a defined peer group during the vesting period. The payouts, if earned, will be settled in Kohl's common stock after the end of the multi-year performance period.

Contingencies

Contingencies	6 Months Ended
	Aug. 01, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are subject to certain legal proceedings and claims arising out of the conduct of our business. In the opinion of management, the outcome of these proceedings and litigation will not have a material adverse impact on our consolidated financial statements.

Net Income Per Section

Net Income Per Section	6 Months Ended
	Aug. 01, 2015
Net Income Per Section [Abstract]
Earnings Per Share	Net Income Per Share The following table summarizes our basic and diluted net income per share calculations: Three Months Ended Six Months Ended August 1, August 2, August 1, August 2, (In Millions) Numerator—Net income $ 130 $ 232 $ 257 $ 357 Denominator—Weighted average shares: Basic 196 204 198 205 Impact of dilutive employee stock-based awards 1 1 1 1 Diluted 197 205 199 206 Antidilutive shares 1 5 — 8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Aug. 01, 2015
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt consists of the following unsecured senior debt: Outstanding Maturity Effective Rate Coupon Rate August 1, 2015 January 31, 2015 August 2, 2014 (Dollars in Millions) 2017 6.31 % 6.25 % $ 318 $ 650 $ 650 2021 4.81 % 4.00 % 650 650 650 2023 3.25 % 3.25 % 350 350 350 2023 4.78 % 4.75 % 300 300 300 2025 4.25 % 4.25 % 650 — — 2029 7.36 % 7.25 % 99 200 200 2033 6.05 % 6.00 % 166 300 300 2037 6.89 % 6.88 % 150 350 350 2045 5.57 % 5.55 % 450 — — 5.02 % 3,133 2,800 2,800 Unamortized debt discount (5 ) (7 ) (8 ) Deferred financing costs (19 ) (13 ) (14 ) Current portion of long-term debt (318 ) — — Long-term debt $ 2,791 $ 2,780 $ 2,778

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Aug. 01, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table summarizes our stock option activity for the six months ended August 1, 2015 : Shares Weighted Average Exercise Price (Shares in Thousands) Balance at beginning of period 6,211 $ 52.95 Exercised (2,730 ) 52.99 Forfeited/expired (140 ) 50.13 Balance at end of period 3,341 $ 53.05 Nonvested stock awards The following table summarizes nonvested stock activity, including restricted stock equivalents issued in lieu of cash dividends, for the six months ended August 1, 2015 : Shares Weighted Average Grant Date Fair Value (Shares in Thousands) Balance at beginning of period 2,431 $ 52.29 Granted 602 74.70 Vested (731 ) 52.71 Forfeited (175 ) 53.91 Balance at end of period 2,127 $ 58.06 Performance share units During the six months ended August 1, 2015, we granted performance-based restricted stock units ("performance share units") to certain executives. The performance measurement period for these performance share units is fiscal years 2015 through 2017. The fair market value of the grants were determined using a Monte-Carlo valuation on the date of grant. The performance share units cover a target of 138,000 shares. The actual number of shares which will be earned at the end of the three-year vesting period will vary based on our cumulative financial performance over the vesting period. The number of performance share units earned will be modified up or down based on Kohl’s Relative Total Shareholder Return against a defined peer group during the vesting period. The payouts, if earned, will be settled in Kohl's common stock after the end of the multi-year performance period.

Net Income Per Section Net Inco

Net Income Per Section Net Income Per Section (Tables)	6 Months Ended
	Aug. 01, 2015
Net Income Per Section [Abstract]
Basic and diluted net income per share calculation	The following table summarizes our basic and diluted net income per share calculations: Three Months Ended Six Months Ended August 1, August 2, August 1, August 2, (In Millions) Numerator—Net income $ 130 $ 232 $ 257 $ 357 Denominator—Weighted average shares: Basic 196 204 198 205 Impact of dilutive employee stock-based awards 1 1 1 1 Diluted 197 205 199 206 Antidilutive shares 1 5 — 8

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014
Basis of Presentation (Narrative) [Abstract]
Deferred Finance Costs, Net	$ 19	$ 13	$ 14
Increase (Decrease) in Income Taxes Receivable			43
Income Taxes Receivable			$ 23

Debt - Components of Long Term

Debt - Components of Long Term Debt (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014	Jan. 31, 2015
Debt Instrument [Line Items]
Long-term Debt, Fair Value		$ 3,200	$ 3,100	$ 3,200	$ 3,100	$ 3,100
Long-term Debt, Current Maturities		317	0	317	0	0
Unamortized debt discount		(5)	(8)	(5)	(8)	7
Deferred Finance Costs, Net		(19)	(14)	(19)	(14)	(13)
Long-term Debt, Current Maturities		318	0	318	0	0
Long-term debt		2,791	2,778	2,791	2,778	$ 2,780
Repayments of Debt				767
Gains (Losses) on Extinguishment of Debt		131	$ 0	131	0
Payments of Debt Extinguishment Costs				126	$ 0
Redemption Premium	$ (37)
Write off of Deferred Debt Issuance Cost	$ 1			$ 5
Line of Credit Facility, Description				1
Senior Notes Due Twenty Twenty Five [Member] | Senior Notes
Debt Instrument [Line Items]
Total senior debt		$ 650		$ 650
Senior Notes
Debt Instrument [Line Items]
Effective Rate		5.54%	6.00%	5.54%	6.00%	6.00%
Total senior debt		$ 3,133	$ 2,800	$ 3,133	$ 2,800	$ 2,800
Senior Notes | Senior Notes Due 2017
Debt Instrument [Line Items]
Effective Rate			6.00%		6.00%	6.00%
Debt Instrument, Interest Rate, Stated Percentage		6.00%	6.00%	6.00%	6.00%	6.00%
Total senior debt		$ 318	$ 650	$ 318	$ 650	$ 650
Senior Notes | Senior Notes Due Two Thousand And Twenty One [Member]
Debt Instrument [Line Items]
Effective Rate			5.00%		5.00%	5.00%
Debt Instrument, Interest Rate, Stated Percentage			4.00%		4.00%	4.00%
Total senior debt		650	$ 650	650	$ 650	$ 650
Senior Notes | Senior Notes Due 2023
Debt Instrument [Line Items]
Effective Rate			3.00%		3.00%	3.00%
Debt Instrument, Interest Rate, Stated Percentage			3.00%		3.00%	3.00%
Total senior debt		350	$ 350	350	$ 350	$ 350
Senior Notes | Senior Notes Due Twenty Twenty Three [Member]
Debt Instrument [Line Items]
Effective Rate			5.00%		5.00%	5.00%
Debt Instrument, Interest Rate, Stated Percentage			5.00%		5.00%	5.00%
Total senior debt		$ 300	$ 300	$ 300	$ 300	$ 300
Senior Notes | Senior Notes Due Twenty Twenty Five [Member]
Debt Instrument [Line Items]
Effective Rate		4.00%	4.00%	4.00%	4.00%	4.00%
Debt Instrument, Interest Rate, Stated Percentage		4.00%	4.00%	4.00%	4.00%	4.00%
Total senior debt		$ 650	$ 0	$ 650	$ 0	$ 0
Senior Notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Effective Rate			7.00%		7.00%	7.00%
Debt Instrument, Interest Rate, Stated Percentage			7.00%		7.00%	7.00%
Total senior debt		99	$ 200	99	$ 200	$ 200
Senior Notes | Senior Notes Due 2033
Debt Instrument [Line Items]
Effective Rate			6.00%		6.00%	6.00%
Debt Instrument, Interest Rate, Stated Percentage			6.00%		6.00%	6.00%
Total senior debt		166	$ 300	166	$ 300	$ 300
Senior Notes | Senior Notes Due 2037
Debt Instrument [Line Items]
Effective Rate			7.00%		7.00%	7.00%
Debt Instrument, Interest Rate, Stated Percentage			7.00%		7.00%	7.00%
Total senior debt		$ 150	$ 350	$ 150	$ 350	$ 350
Senior Notes | Senior Notes Due 2045
Debt Instrument [Line Items]
Effective Rate		6.00%	6.00%	6.00%	6.00%	6.00%
Debt Instrument, Interest Rate, Stated Percentage		6.00%	6.00%	6.00%	6.00%	6.00%
Total senior debt		$ 450	$ 0	$ 450	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014	Feb. 01, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 934	$ 1,407	$ 746	$ 971
Long-term Debt, Excluding Current Maturities	2,791	2,780	2,778
Long Term Investments Fair Value	$ 3,200	$ 3,100	$ 3,100

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Grants (Details) - $ / shares	6 Months Ended
	Aug. 01, 2015	Jan. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,127,000	2,431,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options		6,211,000
Restricted shares and units granted, excluding shares earned in lieu of cash dividends	602,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 74.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price		$ 52.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,730,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 52.99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	140,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,341,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 53.05
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 58.06	$ 52.29
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	731,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 52.71
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	175,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 53.91
Performance restricted shares units	138,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 50.13

Net Income Per Section Net In19

Net Income Per Section Net Income Per Section (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net Income Per Section [Abstract]
Net income	$ 130	$ 232	$ 257	$ 357
Basic	196	204	198	205
Impact of dilutive employee stock-based awards	1	1	1	1
Diluted	197	205	199	206
Antidilutive shares	1	5	0	8